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Nigeria’s naira appreciates to N1,369 per dollar amid rising external reservesForex turnover surges over 63% as market confidence strengthens amid improved foreign inflowsGrowing external reserves reach $51.06 billion, boosting the naira’s resilience against major currencies
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Nigeria’s currency recorded a modest gain against the United States dollar in the official foreign exchange market as the country’s external reserves climbed to their highest level in more than a decade, boosting confidence in the nation’s foreign exchange outlook.
Naira appreciates to N1,369 per dollar
The naira appreciated by about 0.10 per cent against the US dollar at the Nigerian Foreign Exchange Market (NFEM), closing at N1,369.11/$ compared to N1,370.46/$ recorded in the previous trading session.
Foreign inflows improve as the naira rallies against the USD in all markets. Credit: NovatisSource: Getty Images
According to the latest daily foreign exchange update
